FY2024 EPS Estimates for The Cigna Group (NYSE:CI) Boosted by Leerink Partnrs

The Cigna Group (NYSE:CI) – Stock analysts at Leerink Partnrs upped their FY2024 earnings estimates for shares of The Cigna Group in a note issued to investors on Thursday, May 2nd. Leerink Partnrs analyst W. Mayo now anticipates that the health services provider will post earnings of $28.45 per share for the year, up from their prior forecast of $28.34. The consensus estimate for The Cigna Group’s current full-year earnings is $28.45 per share. Leerink Partnrs also issued estimates for The Cigna Group’s Q4 2024 earnings at $7.78 EPS, Q1 2025 earnings at $6.49 EPS, Q2 2025 earnings at $7.76 EPS, Q3 2025 earnings at $8.40 EPS, Q4 2025 earnings at $8.79 EPS and FY2027 earnings at $38.73 EPS.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.41 earnings per share.

A number of other analysts have also commented on the stock. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Mizuho lifted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Morgan Stanley restated an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Cantor Fitzgerald lifted their price target on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. Finally, Oppenheimer increased their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $366.14.

The Cigna Group Trading Down 0.9 %

Shares of NYSE CI opened at $341.50 on Monday. The business has a fifty day simple moving average of $350.77 and a 200-day simple moving average of $319.71. The company has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.05 and a beta of 0.57. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 0.75.

Hedge Funds Weigh In On The Cigna Group

A number of institutional investors have recently made changes to their positions in the business. Roman Butler Fullerton & Co. increased its position in The Cigna Group by 61.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after buying an additional 3,539 shares during the period. Ellsworth Advisors LLC bought a new position in The Cigna Group during the fourth quarter worth $4,377,000. Sapient Capital LLC acquired a new position in The Cigna Group during the 4th quarter valued at $2,811,000. Allspring Global Investments Holdings LLC boosted its holdings in The Cigna Group by 29.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock valued at $87,870,000 after purchasing an additional 66,891 shares during the period. Finally, Accurate Wealth Management LLC acquired a new stake in The Cigna Group in the 4th quarter worth $2,244,000. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the sale, the insider now owns 44,649 shares of the company’s stock, valued at $15,180,660. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock worth $39,296,330 over the last ninety days. 0.60% of the stock is currently owned by insiders.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.64%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is presently 45.98%.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.